Kadant Joins the United Nations Global Compact Initiative

Rhea-AI Summary

Kadant Inc. has officially joined the United Nations Global Compact, the largest corporate sustainability initiative globally. This membership encourages aligning business operations with principles on human rights, labor, environment, and anti-corruption. President Jeffrey L. Powell highlighted the company's commitment to innovative products that support societal well-being and environmental preservation. The UN Global Compact comprises over 12,000 member companies from more than 150 countries, aiming to advance the Sustainable Development Goals.

Positive

• Joining the UN Global Compact aligns Kadant with global sustainability initiatives, enhancing its corporate reputation.
• Supports the company's commitment to environmental and societal goals, potentially attracting environmentally conscious investors.

Negative

• None.

WESTFORD, Mass., Feb. 01, 2021 (GLOBE NEWSWIRE) -- Kadant Inc. (NYSE: KAI) announced it has joined the United Nations (UN) Global Compact, the world’s largest corporate sustainability initiative. Under the UN Global Compact, members are encouraged to align their operations and strategies with universal principles on human rights, labor, environment, and anti-corruption and take strategic actions to advance broader societal goals, such as the UN Sustainable Development Goals.

“We are proud to join thousands of other companies globally who are committed to taking responsible business actions to create a better world,” said Jeffrey L. Powell, president and chief executive officer of Kadant. “This collective effort aligns well with our commitment to provide innovative products and technologies that positively impact the use and preservation of our earth’s natural resources and benefit the well-being of society.”

Launched in 2000, the UN Global Compact is the world’s largest corporate citizenship initiative with more than 12,000 member companies located in over 150 countries. More information about the UN Global Compact is available at www.unglobalcompact.org.

About Kadant
Kadant Inc. is a global supplier of high-value, critical components and engineered systems used in process industries worldwide. The Company’s products, technologies, and services play an integral role in enhancing process efficiency, optimizing energy utilization, and maximizing productivity in resource-intensive industries. Kadant is based in Westford, Massachusetts, with approximately 2,700 employees in 20 countries worldwide. Kadant’s most recent corporate sustainability report can be viewed at www.kadant.com/en/about-us/sustainability. The report highlights the Company’s commitment and progress on Environmental, Social, and Corporate Governance initiatives, is structured according to Global Reporting Initiative (GRI) best practices for corporate sustainability reporting and addresses those factors most relevant to the Company’s stakeholders. For more information, visit www.kadant.com.

Safe Harbor Statement
The following constitutes a “Safe Harbor” statement under the Private Securities Litigation Reform Act of 1995: This press release contains forward-looking statements that involve a number of risks and uncertainties, including forward-looking statements about our products, technologies, and markets. These forward-looking statements represent our expectations as of the date of this press release. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise. These forward-looking statements are subject to known and unknown risks and uncertainties that may cause our actual results to differ materially from these forward-looking statements as a result of various important factors, including those set forth under the heading "Risk Factors" in Kadant’s annual report on Form 10-K for the year ended December 28, 2019 and subsequent filings with the Securities and Exchange Commission.

Contacts
Investor Contact Information:
Michael McKenney, 978-776-2000
IR@kadant.com
or
Media Contact Information:
Wes Martz, 269-278-1715
media@kadant.com

FAQ

What does Kadant's membership in the UN Global Compact mean for KAI stock?

Kadant's membership signals a commitment to sustainability, which may enhance investor confidence and could positively impact KAI stock.

How many companies are part of the UN Global Compact?

The UN Global Compact includes over 12,000 member companies from more than 150 countries.

What are the main principles of the UN Global Compact that Kadant is aligning with?

Kadant is aligning with principles related to human rights, labor, environment, and anti-corruption.

When did Kadant announce its membership in the UN Global Compact?

Kadant announced its membership on February 1, 2021.

Who is the CEO of Kadant Inc.?

The CEO of Kadant Inc. is Jeffrey L. Powell, who expressed pride in joining the UN Global Compact.